RESPA Had Three Specific Objectives

question 14

Multiple Choice

RESPA had three specific objectives.Which of the following was NOT one of those objectives?

• A) More effective advance disclosure of settlement costs.
• B) More informative of the cost of credit.
• C) Elimination of kickbacks and unearned fees.
• D) A reduction in the amount of escrow placed in accounts for homeowners.

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Definitions:

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, bank deposits, and other liquid assets.

Expansionary Monetary Policy

A monetary policy approach used by central banks to increase the money supply and lower interest rates, aiming to stimulate economic growth.

Classical Economics

A school of thought in economics that emphasizes the importance of free markets, competition, and the self-regulating nature of economies.

Adam Smith

A Scottish economist, philosopher, and author who is considered the father of modern economics, known for his theories on free markets.